India's green bond issuances have grown slower than peers, shows data

Dedicated ESG debt funds may be a key factor to help issuances grow

The amount India has mopped up through green bond issuances grew at a slower rate than in many peer economies.

India raised $22.1 billion through green bonds till the first half of 2022, compared to Russia’s $2.6 billion, Brazil’s $11.2 billion, and China’s $250 billion during the same period. The figure for Japan was $44.5 billion and US $334 billion.

A green bond is a debt instrument used to finance projects of environmental importance. India’s Rs 8,000-crore sovereign green bond issuance on Wednesday comes amid a surge in sovereign participation in the market globally. Sovereign issuances accounted for less than